* Value Add Opportunity: Vacant with immediate access, giving the next owner the ability to complete the estimated ~$10,000 rehab and place a tenant at current market rent without inheriting an existing lease.
* Rental Potential: Pro forma rent is $1,150/month. Rentometer supports this projection with an average 3-bedroom rent of $1,150/month and a median of $1,100 within a 0.33-mile radius.
* Neighborhood Insight: Anderson is approximately 35 miles northeast of Indianapolis. The property also sits near a city park and school, supporting its appeal as a long-term family rental.
* Cap Rate / NOI Insights: Stabilized operations project approximately $9,930/year in NOI and a 12.4% pro forma cap rate based on the $79,900 purchase price.
* Pro Forma vs Current Actual Status: The property is currently vacant with no lease or rent to inherit. Stabilized pro forma performance projects $1,150/month in gross rent and $9,930/year NOI. A stabilized actual NOI or actual cap rate is not provided because the property is currently vacant. Water, sewer, trash, electric, and gas are projected as tenant-paid. No separate disposition price is provided; the stated ARV is $113,070.
* Other Selling Points: Large fully fenced 10,368 SqFt lot with alley access on two sides, hardwood floors, approximately 10-foot ceilings, formal dining room, long covered porch, and Victorian character. Rehab Notes:
* Light Rehab: Approximately $10,000 estimated scope.
* Scope should focus on preparing the vacant property for market rent; exact individual repair items should be verified during buyer due diligence.
* Wood-frame construction with siding and a pitched asphalt-shingle roof. Utilities are structured to be tenant-paid, helping minimize owner-paid operating expenses.
Comps:
1. 1019 W 9th St, Anderson, IN 46016 – $94,211 – 3 Bed/1 Bath – 0.20 mi
2. 711 S Madison Ave, Anderson, IN 46016 – $133,879 – 3 Bed/1 Bath – 0.21 mi
3. 803 W 12th St, Anderson, IN 46016 – $88,260 – 3 Bed/1 Bath – 0.23 mi
Terms:
* CASH BUYERS ONLY: Requires quick and reliable funding.
* SOLD AS-IS: No repairs will be made by the seller.
* Act Fast: Deals like this in growing areas don't last long!
Call/Text: (463) 240-1822
Email: [todd@fsvproperties.com]
More About This Property
Nearby Deals
Nearby Markets12 cities · 8 counties · 12 ZIP codes
Figures from the seller unless a line says otherwise. Verify before you close.
0 deals visible on map
Zoom in to see deals.
Zoom in to see deals
ARV $113,000
From the listing
The seller picked no comps. Investimate’s own value for this home is $64,000.
